According to Yale M Fishman, auto giant General Motors plans to expand the business in Mexico with an investment of 691 million dollars. The automakers are attracted to invest in Mexico, because of the low wages and proximity to the United States.
General Motors’ impact on the Mexican economy
It is publicly known that American cars are coming back to their homeland. More and more American cars are being sold to American customers, states the famous Yale Fishman Associates organization. This move will bring more and more cars with American design right back to America. Eventually, it will help boost the economies both of Mexico and the US. This will probably lead to fewer immigrants, says Mr. Fishman.
Yesterday, Mr. Yale Fishman NY, and Mexican President Enrique Pena Nieto expressed their satisfaction with GM’s plans. The note that “This is good both for their company and our country. With this investment, they will create new job positions.”, said Fishman. Furthermore, GM says that they will invest $ 349 million in a new plant in Silaou, which will produce eight-speed gearboxes. Another $ 211 million will invest to expand the complex in Toluca (near Mexico City). $ 131 million are planned for the expansion of the company and a new generation of transmitters in San Luis Potosi, added Fishman.
General Motors’ plans for the future in Mexico
“GM will soon celebrate its 78-year presence in Mexico, and we will be celebrating the new beginning with the new investment. This means more jobs and opportunities available in Silaoa, San Luis, and Toluca Potosia,” said the president of General Motors de Mexico Ernesto Hernandez.
Moreover, on a legal note, Yale Fishman Associates consulted some of GM’s lawyers. They explained how these investments will also include more advanced technology for customers.
Mexico is the eighth car manufacturer in the world. According to Yale Fishman ESQ, the total of last year’s car production in Mexico was nearly 2.8 million vehicles. This includes 571,000 GM vehicles, announced the Mexican Automobile Industry Association.